All Forum Posts by: Andrew K.

@Jaycee Greene thanks that was more so an example. Thanks for the input. 

This might be common knowledge but is there an average rent per square foot for single family that I could assume for quick estimates while looking for deals? Example 3-2 single family 1450 square feet. Is it $1/foot? $1.50/foot?  I'm in Ohio so I know LA and NYC would be way different. 

@Peter Stewart very good info thanks!

@Nicholas L. I wish! Wife and 5 kids would not like that! 🙄

@Chris Seveney it is in an upper middle class suburb of Cleveland. Single family homes range from $300k to $1m plus. I'm seeing that the asking price is high so I might watch it for a bit. 

@Jill F. I have a feeling rents could go up but also asking price is a bit high. In your opinion what would a decent offer be on something with these numbers? I know just enough to get me in trouble so any input from the experts is greatly appreciated!

@Chris Seveney  other than the obvious problems that you pointed out! Do you feel that first glance those numbers would be a good deal for someone? I feel you have WAY more experience then I do! 

@Chris Seveney  Definitely not the fun answer I was hoping for but I definitely appreciate the advice! Sometimes you need someone to smack your hand away when you're reaching! 😜 It such a great neighborhood though! 

@Arman Ahmed thanks for you input! The numbers I have are from a profit loss statement it included all expenses and vacancies. Do you have experience with deals like this yourself? I personally would doubt I could find 30% down on that. I believe commercial loan would expect 25-30%. They said the have an assumable loan at 4.1% $1.5m. Not even sure how that would work. 10yr fixed loan. 

I have been looking and found a nice 15 unit building in a solid neighborhood! Problem is I haven't done any deals yet. Going over how could I get this done? Any ideas?! Net income is around $120kyr. Rents are about $18k monthly. Does this seem doable?